At a compound annual growth rate of 6.4%, the size of the worldwide Surgical Navigation Systems market is projected to reach $ 1.75 BIllion in 2030.
Development is expected to be powered by a growing incidence of target diseases such as osteoarthritis, brain cancer, and ENT disorders, together with a rising geriatric population. 9.6 per cent of men and 18 per cent of women suffer from different types of arthritis, according to the World Health Organization (WHO). Generally, osteoarthritis affects the geriatric community. Many patients with osteoarthritis have trouble travelling and are unable to carry out everyday operations.
Furthermore, the growing demand for minimally invasive surgery is another consideration responsible for increasing the usage of such instruments over the projected timeframe. Minimally invasive procedures require less incision cuts, resulting in easier healing, shorter stay in hospitals, and increased patient satisfaction. Furthermore, because of the shortened length of hospital visits, these treatments are commercially feasible. During minimally invasive surgeries, the amount of blood loss is smaller than that of typical open surgeries. It is expected that technical developments in these techniques and the launch of new technologies would further boost the demand.
In 2018, over 48.0 million people in the U.S. were in the age group of 65 and over, according to the United States Census Bureau, and this figure is projected to reach 98 million by 2060. The demand for knee and hip replacement surgery is projected to rise with an unprecedented growth in the population aged 60 years and over. It is predicted that this aspect will affect consumer growth positively.
The aim of the report is to estimate the size of the market for surgical navigation systems and the future growth potential of the market for surgical navigation systems across various segments, such as patient position and component. The base year considered for the analysis is 2019 and from forecast is provided from 2020-2028.
In 2019, the neurology held the largest share of the market for surgical navigation systems since it was the first surgical branch to incorporate navigation and efficiently integrate it into the clinical routine. Neurology includes the treatment of brain cancer and various Central Nervous System (CNS) diseases that need correct diagnosis and specific treatments that are available with the assistance of SNSs.
The highest market share in 2019 was accounted for by North America. Consequently, the increase in the number of patients raises the need for surgical navigation systems and hence increases the geographic demand for surgical navigation systems. The primary growth factor is increasing preference for outpatient surgery centres and, along with increasing operation volumes, placing a burden on procedural volumes in hospitals.
Key vendors in the market include Braun Melsungen AG, Stryker, Medtronic, Corin, Brainlab AG, Siemens Healthineers, CAScination AG, DePuy Synthes, Zimmer Biomet, KARL STORZ SE & Co. KG.
Surgical Navigation Systems Market Scope
|Revenue forecast in 2030
|CAGR of 6.4 % during 2020-2030
|by Technology, Application, End-User, Region.
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Medtronic plc (Ireland), Stryker Corporation (U.S.), Brainlab AG (Germany), Scopis GmbH (Germany), Fiagon AG (Germany), Karl Storz GmbH & Co. KG (Germany), B. Braun Melsungen AG (Germany), Amplitude Surgical (France), Zimmer Biomet Holdings, Inc. (U.S.), Siemens Healthineers (Germany).
Key Segments of the Global Surgical Navigation Systems Market
- Ambulatory Surgical Centers
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Important Companies in Global Surgical Navigation Systems Market
- Brainlab AG
- Siemens Healthineers
- B. Braun Melsungen AG
- CAScination AG
- DePuy Synthes
- Zimmer Biomet
- KARL STORZ SE & Co. KG
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of surgical navigation systems market benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on surgical navigation systems market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global surgical navigation systems market. The report will benefit: Every stakeholder involved in the surgical navigation systems market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about surgical navigation systems market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global surgical navigation systems market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.